Only ten law projects (bills) regarding endowments are currently being processed by the National Congress in Brazil. Partnering with the Institute for the Development of Social Investment (IDIS) and PLKC Lawyers, H360 has been a key advocate for the creation of a legislation to address the matter.
In many countries, endowments are the main tool to stimulate social investment from private funds, the Harvard University and the Louvre Museum being only a couple of examples. In such countries, endowments depend on a distinct tax policy – and they must operate with utmost transparency, without, however, encountering discouraging bureaucracy and excessive state control.
A part of the mission of H360, IDIS and PLKC has been to clarify these matters to congressmen in Brasília, as well as to representatives of civil organizations and managers of social funds. With that intent, the organisations promoted on April 3rd a debate regarding the issue at CIVI-CO, a coworking space focused exclusively in business from the social sector.
Among the speakers, Patrícia Villela Marino, co-founder of CIVI-CO and president of Humanitas360 Institute; Priscila Pasqualin, partner of PLKC Lawyers (responsible for the company’s area of philanthropy, third sector and private social investment) and Paula Fabiani, director-president of IDIS. An overview on endowments in Brazil and abroad was presented, as well as key points on the issue, such as the motivations, the challenges, the benefits and the legal aspects of the regulation.
Patrícia Villela Marino highlighted the importance of partners engaging in the cause to strengthen Brazil’s third sector. Finally, she invited all attendees to play a role in this journey.